Hinkley Point: the 'dreadful deal' behind the world's most expensive power plant

Building Britain's first new nuclear reactor since 1995 will cost twice as much as the 2012 Olympics - and by the time it is finished, nuclear power could be a thing of the past. How could the government strike such a bad deal? By Holly WattHinkley Point, on the Somerset coast, is the biggest building site in Europe. Here, on 430 acres of muddy fields scattered with towering cranes and bright yellow diggers, the first new nuclear power station in the UK since 1995 is slowly taking shape. When it is finally completed, Hinkley Point C will be the most expensive power station in the world. But to reach that stage, it will need to overcome an extraordinary tangle of financial, political and technical difficulties. The project was first proposed almost four decades ago, and its progress has been glacial, having faced relentless opposition from politicians, academics and economists every step of the way.Some critics of the project have questioned whether Hinkley Point C's nuclear reactor will even work. It is a new and controversial design, which has been dogged by construction problems and has yet to start functioning anywhere in the world. Some experts believe it could actually prove impossible to build. "It's three times over cost and three times over time where it's been built in Finland and France," says Paul Dorfman, from the UCL Energy Institute. "This is a failed and failing reactor." Continue reading...